On the SOLUSD daily chart, we observe a downtrend with a series of lower highs and lower lows. The recent candlestick formation, characterized by a bearish engulfing pattern, reinforces the bearish bias. The price has been trading below the 200-period moving average, indicating a strong downtrend. Volume has been increasing, especially during the recent decline, confirming the strength of the move. The SOLUSD price has been heavily influenced by the overall market sentiment, with the Instrument: Solana, being closely tied to the broader cryptocurrency market. With the current downtrend in place, we expect the SOLUSD price to continue its decline,…

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